ICICI Bank hikes rates on Foreign currency deposit

With this, FCNR(B) deposits in US Dollar, having a maturity of one to two years, will now attract an interest rate of 2.56 per cent against 2.41 per cent a month ago, the bank said in a press release issued here today.     

For deposits in Euro, having the same maturity, the revised rate is 4.64 per cent against 4.34 per cent in the previous month while for Pound the new rate stands at 5.7 per cent, the bank said.     

 

For NRE deposits having a maturity 12-18 months, the rate has been revised to 3.31 per cent as compared to 3.16 last month, it said.